Illinois Storm Victims Eligible for SBA Disaster Loans
Published Date: 7/16/2026
Notice
Summary
Illinois got hit hard by storms and tornadoes on June 11, 2026, and now the government is stepping in to help. People and businesses in Cook, LaSalle, and nearby counties can apply for low-interest disaster loans to fix damage or cover lost income. You’ve got until September 8, 2026, to apply for physical damage loans and until April 12, 2027, for economic injury loans—so don’t wait!
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Physical Disaster Loans Available
If you live in the counties the SBA listed (primary: Cook and LaSalle; plus the contiguous counties named), you can apply for SBA physical disaster loans to repair damage from the June 11, 2026 storms. Physical loan applications are due by September 8, 2026, and interest rates in this declaration include 5.750% for homeowners with credit available elsewhere and 2.875% for homeowners without credit available elsewhere.
Business Disaster Loan Terms (Physical)
Businesses and private nonprofit organizations in the listed Illinois and Indiana counties can apply for SBA physical disaster loans to fix storm damage. The declaration lists interest rates such as 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere; the physical loan application deadline is September 8, 2026.
Economic Injury (EIDL) Loans Open
Businesses, small agricultural cooperatives, and private nonprofit organizations in the declared areas may apply for Economic Injury Disaster Loans (EIDL) to cover lost working capital. EIDL applications are due by April 12, 2027, and the declaration lists interest rates for EIDL such as 4.000% for businesses and small agricultural cooperatives without credit available elsewhere and 3.625% for private non-profit organizations without credit available elsewhere.
Where and How to Apply
You can apply for the SBA disaster loans online at the MySBA Loan Portal (https://lending.sba.gov) or in person at locally announced locations; call 1-800-659-2955 or email [email protected] for help. If you are deaf, hard of hearing, or have a speech disability, use 7-1-1 to access relay services.
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Key Dates
Department and Agencies
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